We enjoy having goals. That’s why we subscribe to Goalcast. We want to become better. And for many of us, one of our goals is to become wealthy.
As a contradiction to this goal, some of us have limiting beliefs when it comes to making money;
Money isn’t everything. When people say this, they are correct. Having money simply for the sake of having money is pointless. Money is a tool. It is how money is used that gives it meaning. And there are ways you can use the money to help your life and the world around you.
Money is bad. A lot of people think this way. And they have good reason to. They know that in order for a person to make money, someone else has to lose it. For you to have $10, someone else has to give you $10. This is the rule of money. And this is why many people feel it is unethical to become rich.
And yes, sometimes IT IS unethical to become rich. But not always. I will give you the distinctions on how you can become wealthy ethically. And whilst money may not be everything, through becoming wealthy, you can help the world by putting this money towards the people and things you feel ARE "everything".
You Can Help The World By Becoming Wealthy
Firstly, how do you become wealthy? Well the majority of people that earn money (they don’t inherit or win it) do so by one or both of the following:
- They become wealthy through property
- They become wealthy through business
Now business can include owning stocks, as stocks are basically an ownership part in whatever business you are investing in. Business can also be owning and operating a product or service business.
Whichever method you choose to become wealthy, in order to do so ethically, there is one main concept that I wish to introduce to you – value.
Value
As said before, to make $10 someone else has to give you that $10. However, to make $10 ethically, in return, you must give this person at least $10 worth of value in exchange for their $10. This value could be in the form of monetary value, entertainment value, time saved value or any other form of value that the payer desires. As long as the payer wishes this value and receives it, you are helping them, and it is a fair exchange. And you are making money ethically. Win/Win.
Value is actually about giving. And this giving is what a lot of people do not think about when they envision how they will become rich. All they think about is how they will take money from others. They imagine the money rolling in. But giving is a vital ingredient. Make no mistake, if you wish to make $10 million ethically, you have to give at least $10 million worth of value.
Secondly, giving value is not just to clients. It is also to the world. How much value are you giving to the world vs how much you are taking?
If through the process of your business or investments, you are responsible for $50,000 worth of environmental damage that future generations will have to clean up, then you are ethically in debt to both the environment and the future generations.
We all leave a footprint in our modern society. We are all using the Earth’s resources and leaving some mess. And sometimes it is hard to quantify this in monetary terms. Which is why it is extremely important to reduce your footprint as much as possible. But further to reducing your footprint, how are you offering the world value? How are you giving it back as much or more than what it is giving you? Now and in the future? There are many ways, the next topic is just one way….
How Being Wealthy Can Help The World
The wealthy are not only powerful through the methods in which they get rich, but also through the power they have once they are prosperous.
Let’s use an analogy. A government collects taxes from taxpayers and then put this money to where they see fit. This could be towards healthcare, education, the environment, etc. They have the choice. When you are rich, you also have such power. Because you can decide where your money goes.
Firstly start by paying yourself. Work out what your number is: without being greedy, what income per annum will you be happy with? How much money do you need to have as much pleasure as you wish, and to pay for all of the necessities?
Let’s say it is $300,000 per annum after tax. If your income is $1,000,000 a year after tax then all of a sudden you have $700,000 per annum to put wherever you choose. You can give this money to family members, you can donate it to the charities or whatever causes you see fit. And this is where the power of being rich truly plays out. You can have your greatest causes realized. You have the financial might similar to what a government does. And you can give back to the world which has given you so much.
Work Out Your Purpose Now & Start Giving
You have to figure out as soon as you can why you wish to become wealthy. What your purpose is for this wealth. This will be your driver, your motivation to become wealthy. Remember, money isn’t the end goal. It is simply a tool. You are making money because of what you will do with it.
And as you go on your way to becoming rich, I want you to keep in mind – how much value are you giving? How can you increase your value? This will make you wealthier and also help others.
Even If You Are Not Wealthy, You Can Still Help The World
You have the choice of where your resources go. Your money, your emotions, your energy, your focus. Where you put these resources changes the world, whether you are actively meaning to or not. So be conscious and put them to where you truly wish them to be.
